GE Capital Leads $120MM Schumacher Group Facility
GE Capital Healthcare Financial Services (HFS) business announced it is serving as the administrative agent on a $120 million senior credit facility for Schumacher Group, one of the largest emergency medicine, hospital medicine, care management and medical billing companies in the U.S.
The new facility consists of a $40 million revolver and an $80 million term loan, which will be used to refinance existing debt and to fund corporate growth. GE Capital Markets served as joint lead arranger and joint book runner on the facility.
“GE Capital has been our lead lender since 2008,” said Dr. William “Kip” Schumacher, founder and executive chairman of Schumacher Group. “It’s important to me to have that continuity as I appreciate the team’s health care industry expertise, their understanding of our business model, and their top-notch customer service.”
Schumacher has been an innovator in patient care, said Al Aria, senior managing director of corporate finance for GE Capital, HFS. We’re pleased to continue our long relationship supporting their growth.”
Schumacher Group is healthcare group partnering with more than 3,000 providers to help treat more than four million patients annually.